Newer single family home with a gorgeous pool! Three
bedrooms, two baths, 1,494 sq.ft. built in 2000. Located in a nice, quiet wooded
area - not in a private community so no condo fees ... all you pay is property
tax! 15 minutes to the beach! Very close to many shops and amenities.
A short sale is a sale in which the proceeds from selling the property
will fall short of the balance of debts secured by liens against the
property and the property owner cannot afford to repay the liens' full amounts,
whereby the lien holders agree to release their lien on the real estate and
accept less than the amount owed on the debt. Any unpaid balance owed to the
creditors is known as a deficiency. Short sale agreements do
not necessarily release borrowers from their obligations to repay any
deficiencies of the loans, unless specifically agreed to between the
parties.
A short sale is often used as an alternative to foreclosure because it
mitigates additional fees and costs to both the creditor and borrower; however
both will often result in a negative credit report against the property
owner/Seller.
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